125 S State St
Orem, UT 84058
Shopko · Retail Property For Sale

Marcus & Millichap is proud to present this Shopko property located at 125 South State Street in Orem, Utah. Shopko has its own parcel and lies on 8.55 acres and the store is comprised of 100,734-square feet of building space. The property benefits from being a major anchor to a regional Power Center which sees over 75,000 vehicles per day and lies approximately 1.5 miles off of the 1-15 Freeway which is the main North/South artery through the state of Utah. This Orem, Utah Shopko has just over nine years remaining on an absolute Net (NNN) lease that was entered into January 29, 2007. The current rent is $816,168.48 and rent is scheduled to increase on January 31st, 2018 by the lessor of six percent and 1.25x the change in Consumer Price Index (CPI) over the previous three years. Rent will follow this escalation structure every three years after the next rental increase. Additionally, there are four, 5-year tenant renewal options. Headquartered in Green Bay, Wisconsin, Shopko Stores Operating Company, Limited Liability Company (LLC) is now a $3 Billion retailer that operates over 3300 stores in 21 states throughout the Midwest, Mountain, North Central and Pacific Northwest.